Maravi

Kenya to raise joint trade with Zambia

Kenya to raise joint trade with Zambia
Written by Chiwoyu Sinyangwe
Monday, September 21, 2009 4:43:56 PM

KENYA this year plans to up by 10 per cent its joint trade with Zambia sustained by increased investments into the country by Kenyan entrepreneurs, High Commissioner to Zambia Lazarus Amayo has said.

Zambia has in recent years witnessed increased inflows of Kenyan investment and some of the enterprises include oil marketing company Kobil, food and edible oils process plant by Gourock, Davis & Shirtliff, a leading supplier of water-related equipment in the east African region, popular mineral water Manzi and Kenya Airways last week introduced a direct flight into Ndola, enabling the airline to service Lusaka and Copperbelt separately.

In an interview, High Commissioner Amayo who is also the Kenyan envoy to Malawi said the biggest economy in east Africa region wanted to increase bilateral trade, leverage on increased investment interest into the country.

Trade volume between Zambia and Kenya last year stood at US $106 million with Kenyan export to Zambia standing at US $70 million with the opposite volumes standing at US $36 million.

"I think we expect even at moderate figure, say 10 per cent increase for the next one or two years. If you look at the trend, there has been about five to 10, 15 per cent annual growth rate," High Commissioner Amayo said. "And so, I will not be surprised if our next year's figures will have grown, using this year as the base, will be about 10 per cent increase. What we need to do is to create awareness for our products and with airline connection now, people to people contact will more so we look forward to having more increase in trade and in investment and in so doing, we will also expand the volume of trade and value of our bilateral trade and investment."

High Commissioner Amayo said the Kenyan government would continue to increase the platform for their entrepreneurs to expand their business tentacles.

"We are seeing prospects for enhancement and that would also help to create wealth and employment. So apart from exports and imports, we have also gone into investments into Zambia," said High Commissioner Amayo.

Labels: KENYA, TRADE

posted by MrK @ 3:44 PM